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economy. the federal reserve raises its predictions for growth and jobs. anthony mason on the new outlook. the director of the f.b.i. surprised many today with a frank answer to this question: >> does the f.b.i. use drones for surveillance on u.s. soil? >> pelley: bob orr on the f.b.i.'s program. this is supposed to be the answer to america's biggest nuclear contamination problem, but it's billions over budget. carter evans investigates. and ken moreis' great-great- great grandfather is a giant of american history. jim axelrod on how a powerful legacy changed one man's man'sn. mission. >> frederic douglas said it's easier to build strong children than repair broken men. captioning sponsored by cbs >> pelley: good evening. it doesn't happen very often but it happened today-- the stock market plunged in reaction to good news. the news from the head of the federal reserve was that the economy is doing better. here's the part wall street did not like. ben bernanke said the economy is doing well enough that the fed is likely to ease back on one of its stimulus programs, a bond buying program t
the big concern here on wall street was china. the once-booming chinese economy-- now the second-largest in the world-- is beginning to slow down. wall street is worried that the chinese government is not acting fast enough to boost its economy by injecting cash into a tight cred chinese banks have become reluctant to lend to each other. overnight, interest rates shot up by double digits according to wall street trader ben willis. >> this is a natural correction we've been looking for. we can blame it on ben bernanke, we can blame it on china, we can blame it on greece. >> reporter: but with credit tight, investors who r worried chinese consumers won't be able to buy as many goods from the west, hurting other economies. but willis remains optimistic seeing opportunity if falling stock prices >> we love this. this is what we live for when you have this kind of volatility. this is a dream for us. that's why you're in the business. >> reporter: this is when you make your money. i >> exactly. >> reporter: and with the dow rising more than 12% so far this year, stocks were selling at
's exactly what wall street feared when the chairman of the federal reserve said that the economy had improved enough for the fed to ease back on one of its stimulus programs. the dow lost 559 points in the two days after that announcement. it stabilized today, gaining 41 points. it's not just the stock market. anthony mason tells us higher interest rates are also affecting the housing market. >> one of the things i love about this house most is the kitchen. >> reporter: in dumont, new jersey, 30-year-old jeremy mcdonald decided he couldn't wait any longer to jump into the housing market. >> and now, you know, that the prices are starting to trickle up a little bit, it's a good time to get in there because i know the market is not going down anywhere. >> reporter: realtor kelly weber said in the past few months it's suddenly become a sellers' market. >> they're starting to get over asking prices. >> reporter: weber says two forces are combining to drive up prices. >> inventory is low and you have buyers wanting to get in before the rates start creeping further up which is creating thi
the economy. today rouhani signaled a new more open approach. "we are ready to show more transparency to the world" he said. rouhani is 64 years old, a cleric with a law degree from scotland. he's also known as a bridge builder who was once iran's chief nuclear negotiator. in 2003, he put that program on pause to pave the way for talks with the west. sir richard dalton, back then britain's ambassador to iran, said rouhani could steer the way to talks again. >> provided by the united states and its negotiating partners come forward a little way to meet iran it should be possible to get a first stage confidence building agreement on the nuclear question. >> reporter: asked specifically today about iran's relations with the united states, rouhani said "there's an old wound between the two countries that needs to be healed." jubilant iranians spilled into the streets to celebrate rouhani's win. although they won't know for some time just how much of a reformer he turns out to be. >> pelley: elizabeth palmer is joining us from our london bureau. elizabeth, if this is reform, why is it happ
. new at 6:00 we asked len ramirez if the silicon valley economy is humming, why so many layoffs? len? >> reporter: well, for some companies, it's humming along. for symantec, unfortunately, it is not. symantec officials are not officially commenting on the number of layoffs but it is expected to be very significant. and when a company this size does something like that, it has definite ripple effects throughout the local economy. it is one of the biggest and most well known companies in silicon valley. >> symantec. >> reporter: a coffee roasting manager knows many of symantec's 21,000 workers as regulars and friends. >> hey, how's it going? >> reporter: her shop is just two blocks from the sprawling symantec campus and takes in about 10% of its sales from symantec catering orders and walk-ins. >> to 7:30 it's like line out the door sometimes both ways. >> reporter: now she is afraid the lines and the business will begin disappearing. symantec is in the middle of a companywide transformation and reorganization that will reportedly cut 1700 jobs, potentially one of the big job upheaval
from the pope in just four weeks. the economy here is booming. it's the sixth largest in the world. but many have been left behind, millions still living in extreme poverty. >> even if brazil is one of the largest economies in the world, we have one of the biggest inequalities. >> reporter: the government has made concessions, rolling back a 20-cent fare hike in public transportation. but the demonstrations have only grown. >> we pay so much taxes and we don't have education, health, human rights. >> reporter: the protesters have surprised even themselves with their numbers, but there is no clear leader, no clear agenda, and so far tonight, no end in sight. miguel almaguer, nbc news, rio de janeiro. >>> and still ahead for us this evening, out of the classroom and in the field. real-life lessons part of an innovative new way of teaching and something remarkable happening for a lot of kids. >>> and later, high honors tonight for james gandolfini from the folks from back home. >>> we are back with our "education nation" report and what might be the definition of a teachable moment fo
Search Results 0 to 7 of about 8 (some duplicates have been removed)